It happened this week yet again.
The Dow Jones Industrial Average collapsed more than 1,100 points Monday, the largest single-day point drop in the history of Wall Street.
I commented on this strange reaction back in 2009. Here’s what I wrote then:
https://highplainsblogger.com/2009/02/clapping-for-what/
The earlier blog post questioned why those financial gurus standing in the balcony overlooking the trading floor were clapping after a measly 250-point drop in the Dow average.
Another set of financial types and perhaps a celeb were standing on that balcony clapping and grinning as if the Dow had gained 1,100-plus points rather than lost it.
I must conclude that they might know something about this latest financial collapse that the rest of us laypeople don’t understand.
Perhaps they foresaw what would happen today, that the Dow would gain back about half of what it lost Monday. The DJIA finished up a little more than 560 points today.
I’ll take it, folks. I also will accept that the podium cheering section had good reason to clap and grin today.